-
Financial Rates:
5.0
-
Customer Service:
3.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- No monthly fees or required amounts
- Accounts offer competitive rates
- Low opening balance
- Any amount earns highest interest rate
Cons:
- No business accounts available
- Interest rates for CDs low
- Limited personal deposit accounts
- Savings account must be linked
-
Financial Rates:
1.5
-
Customer Service:
4.5
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Low required opening deposit amounts
- Small business and commercial accounts
- Easy Checking to start or rebuild finances
- Simple Cash Back program
Cons:
- Only four transactions allowed per cycle
- High overdraft fees
- Low-interest rates
- Only four different CD options
The accounts offered through FNBO Direct do not have a monthly fee. There is not an amount required to keep in the account. There are no fees for not having that amount in the account each month.
FNBO Direct savings and checking accounts offer competitive interest rates. Those rates are competitive with other online-only accounts. They are much higher than your typical brick and mortar bank rates.
The amounts required to open FNBO Direct accounts is low. The savings and checking account only require $1 to open. The different CD terms all only require $500 to open. There is no set amount to keep in FNBO Direct accounts.
Any amount deposited in FNBO Direct accounts earns the highest interest rates offered. The interest is not adjusted based on the account balance. The minimum amount to open a savings and checking account is $1. Any amount over $0.01 earns the highest interest rate offered. The CD requires $500 to open.
There are no business accounts available through FNBO Direct. The only accounts offered are personal deposit accounts. There is a saving and checking account and different term lengths of CDs. The terms range from a six-month CD to a five-year CD.
The interest rates offered on the FNBO Direct CDs are lower than other online banks. They are not as competitive as FNBO Direct rates for their savings and checking accounts. Other online bank accounts offer more competitive interest rates for CDs.
There is a limited option of personal deposit accounts available through FNBO Direct. There is only one savings account, one checking account, and CDs. There are eight different CD term lengths. The terms range from six-month terms to a five-year term. There is no money market account offered.
The FNBO Direct savings account must be linked to a checking account. You must link an external account to transfer money electronically. You can link up to three external accounts.
BBVA Compass has low opening balances for their accounts. The minimum opening deposit for all checking and saving accounts is $25. The opening required amount for CDs is $500.
Small business and commercial business accounts are available from BBVA Compass. Checking accounts, savings accounts, loans, and credit cards are available. Commercial business opportunities also include ways to increase your working capital.
If you do not qualify for a checking account, BBVA Compass offers the Easy Checking account. This account helps you rebuild your finances. If the account is active with a positive balance after 12 months, you can upgrade to a different checking account. The fee for this account is $13.95 a month. The opening amount required is $25. This account offers a debit card and unlimited check writing. Online or mobile banking and text alerts are available. You have the option to enroll in the Simple Cash Back program.
Simple Cash Back is a program that allows you to earn cash-back rewards. This program is available if you have a debit or credit card with BBVA Compass. Your purchase history determines what offers you receive. You can select the offers that you want. The money is then deposited into your account.
Federal regulations allow for six transactions from a savings account each billing cycle. BBVA Compass savings accounts only allow four. Each extra transaction has a $3 fee.
Most banks have a fee if you spend more than you have in your account. BBVA Compass fees are higher than other banks. For every transaction over $1.01 of insufficient funds, the fee is $38. You can link your checking account to a BBVA Compass savings or money market account. This could help cover the insufficient amount. However, the fee to transfer money from a savings or money market into your checking for insufficient funds is $12 a day.
Only a few of BBVA Compass accounts have good interest rates. The money market account earns a competitive rate, but the rates are promotional. They may change. The other accounts have lower interest rates. The rates are higher than typical banks but lower than online-only bank accounts.
Only four of BBVA Compass CD accounts are available online. The terms are 12 months, 15 months, 18 months, and 36 months. The 12 months CD offers a good interest rate, but it is only a promotional rate. It may change. The other three CD terms are much lower than the 12-month term.
Sponsored Offers
| Savings (Rate as of 4/16/2024) | |
| APY | 5.25% |
|---|---|
| Rate | 5.25% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC. No fees. Easy deposits and quick withdrawals. | |
| Savings (Rate as of 4/16/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| For APY | $1 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 4/16/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 5.00% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC Plus, no monthly fees and unlimited free external transfers | |
| Savings (Rate as of 4/16/2024) | |
| APY | 4.25% |
|---|---|
| Rate | 4.25% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC It only takes about 5 minutes to open a fee-free account. | |
| Savings (Rate as of 4/16/2024) | |
| APY | 5.15% |
|---|---|
| Rate | 5.02% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 4/16/2024) | |
| APY | 5.05% |
|---|---|
| Rate | 4.93% |
| For APY | $5,000 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC CIT Bank, a division of First Citizens, 125+ years of experience. | |
| Savings (Rate as of 4/16/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
| MMA (Rate as of 4/16/2024) | |
| APY | 4.65% |
|---|---|
| Rate | 4.54% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | Yes |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.